Notes to SEFA
Title: reconciliation of SEFA to Federal revenues
Accounting Policies: The Schedule of Expenditure of Federal Awards is prepared in accordance with the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Reconciliation of revenues from Federal sources per the financial statements and expenditures per the Schedule of Expenditures of Federal Awards.Revenues from Federal sources per the financial statementsNon-operating revenue (expense)Federal subsidies $525,000 Capital contributionFederal 364,802 Total revenues from Federal sources per the financial statements 889,802 Expenditures per Schedule of Expenditures of Federal Awards 889,802 Difference $-